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Bank of America Secured Visa® Card Review
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Written by: alex850 on 2008-03-17

Overall Satisfaction
Customer Service
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alex850's review: I applied for their regular Visa in may 2006 and was denied, but they said I could send in a deposit for this secure card. The APR is a High 18%, but it is worth it if you are trying to establish or reestablish credit. In December 2007 they released my $500 deposit. So, hopefully after a few months they will give me an increase.

Peace and Love!

7 Comments

Comment 1 by sethatco
A Better BOA Experience on 2008-03-17

BOA has made strides in helping people with credit problems. Secure cards are up for graduation between 9 and 12 months. As long you make all payments on time and do not go over the CL you will get a graduation and they will match what you have for a deposit as a new CL. Congrats on the secure hopefully you will join the unsecure credit card world of BOA soon.
Comment 2 by markrivers
+1 on 2008-03-17

I agree on this one!

so if you have a spare cash... Use it!

i suggest going for 10,000 right away!

after 6-12 months, when they return your money

your credit limit will be 10,000 and a chance to go higher
Comment 3 by hjm331
Congrats! on 2008-03-17

I love doing business with BofA! This is a way better idea than throwing away your money on a First Premier Bank credit card because as long as you make your payments on time, you get your money back and they unsecure your card. Last but no least, BofA is a really good bank and is most definitely reputable. I love my BofA credit card and hope you feel the same!
Comment 4 by attagirl
What To Do on 2008-03-17

I think that it is nice that they are working so hard. But keep in mind that when they give you the deposit back or release it to your card for use, that you do not have to use it. Keeping it for a emergency is an idea that you should consider.

Always good experience with BOFA.
Comment 5 by hjm331
RE: Attagirl on 2008-03-17

I don't know about you but I heavily use my BofA card to the point where I have $50 available credit but I pay off the balance in full before the statement cuts so I'm showing BofA that I'm a responsible consumer so they can give me big CLI's in the future.
Comment 6 by chrispa
BOA on 2008-03-18

I do have this card. I got it in May of 07 soon they will unsecure it hopefully. I think this bank is good never had any problems

Chris.
Comment 7 by debtor00
Congrats On The Deposit Release on 2008-03-26

Congrats on the deposit release. Have you asked them to increase your limit and convert your card to one with rewards? I've heard your can. It's probably worth a shot.
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